Funny that UIUC's online iMBA on Coursera is exploding. I've read they went from >100 to >2500 students in 4 years. That could have some effect on the market?
Elite MBA Programs Report Steep Drop in Applications
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Re: Elite MBA Programs Report Steep Drop in Applications
#22I was ready to rant about my own experience with MBA students put in pseudo management situations who can't iron their own shirt or couldn't schedule people's hours at a Wendy's... but then I realized this article is about Elite programs. So I wonder are the Elite programs significantly different than other programs? One of my biggest problems encountering MBA students released into the wild is that so many have limi…
The elite programs have higher bars to entry so they generally are selecting people who seem to have potential (already smart, already personable, promising early career). Most of these people would end up being successful anyways, but the MBA from an elite program is seen as a way of accelerating that. A lot of the things you mention are people skills that a MBA isn't really going to change.
Re: Elite MBA Programs Report Steep Drop in Applications
#23This is good news for the planet's health. Hopefully state legislatures, university administrators, and bankers will get the signal-- the tuition versus value equation is makes less and less sense. Especially with many free & low cost self-taught education options online, and the debt burden facing millennials.
lmao, care to elaborate?
yep-- The economic ethics and models espoused by business schools focus on an economic system where companies are expected to maximise short-term gains regardless of consequences.
A focus on profit over everything else. It's a matter of law as well-- heads of companies are legally compelled to prioritize shareholder value.
Re: Elite MBA Programs Report Steep Drop in Applications
#24Earlier quoted context omitted.
lmao, care to elaborate?
Obviously the original poster is someone who thinks everything in their life should be free except for the "things" they themselves produce, which should be charged to people at a premium of course.
o.O that's an eager and broad interpretation.
Re: Elite MBA Programs Report Steep Drop in Applications
#25I was ready to rant about my own experience with MBA students put in pseudo management situations who can't iron their own shirt or couldn't schedule people's hours at a Wendy's... but then I realized this article is about Elite programs. So I wonder are the Elite programs significantly different than other programs? One of my biggest problems encountering MBA students released into the wild is that so many have limi…
> I haven't encountered many from the best programs and I always wonder if they require some REAL work experience where they had real responsibility first / etc.
This was the traditional MBA path for a long time. Start out in a technical field (e.g. engineering), go back for an MBA, move to a management position. A lot of the value of the MBA comes from sharing previous experiences w/ your peers. Having students go straight from undergrad to MBA dilutes that value significantly and it doesn't really do the student taking that path any justice. They'll likely come out and hit the workforce more entitled than they normally would be.
A lot of things mentioned in this discussion deal with leadership issues. MBA programs understand this and focus more on it but leadership is a difficult thing to teach. There is still some hard skills gained in an MBA program, essentially being able to jump into a business in a consulting role and be able to function across multiple departments to understand the business.
Re: Elite MBA Programs Report Steep Drop in Applications
#26Good. The rise of the MBA has seen the downfall of quality. "Business Administration" is not something that can be taught in such a generic way that an MBA qualifies you to actually run a business. In particular, the rise of Financial "Engineering" has led to huge inequality and the total disconnection of "Wall St" from "Main St" such that their relationship has been completely inverted.
You clearly have no idea what is being taught in Top 20 MBA programs. Many MBA programs are graduating people that get both heavy technical training in their program (stats, data engineering, coding, etc) as well as learning how to properly manage individuals with technical skills.
You clearly have no idea about what I know or don't know about MBA programs or my overall experience or career.
I'm not saying that the skills taught are not useful, what I'm saying is that the concept of a generalized "business administration" course that somehow qualifies you to run any and all businesses is basically flawed.
Management is a skill or craft, not a profession. Harvard's model of case studies is a useful skill training technique, but anecdata doesn't make a science.
Re: Elite MBA Programs Report Steep Drop in Applications
#27Good. The rise of the MBA has seen the downfall of quality. "Business Administration" is not something that can be taught in such a generic way that an MBA qualifies you to actually run a business. In particular, the rise of Financial "Engineering" has led to huge inequality and the total disconnection of "Wall St" from "Main St" such that their relationship has been completely inverted.
On a forum so enmeshed in tech and startup culture as this one, yours is a particularly hot take.
Re: Elite MBA Programs Report Steep Drop in Applications
#28Hasn't there always been an inverse correlation to people going back to school and the economy? Currently, the economy is doing very well, so people are less inclined to go back to school. Once the economy turns and unemployment rises, then I'm sure the MBA applications will rise.
This seems like a good point; (speculating) especially if an MBA is viewed asa means to earn more in a declining economy. I don't know much about the programs and the expected increase in salary upon completion.
Re: Elite MBA Programs Report Steep Drop in Applications
#29Earlier quoted context omitted.
lmao, care to elaborate?
yep-- The economic ethics and models espoused by business schools focus on an economic system where companies are expected to maximise short-term gains regardless of consequences. A focus on profit over everything else. It's a matter of law as well-- heads of companies are legally compelled to prioritize shareholder value.
> It's a matter of law as well
That is simply not true. It's merely cargo culting the Friedman doctrine. It has no basis in corporate law, and never has.
Re: Elite MBA Programs Report Steep Drop in Applications
#30I was ready to rant about my own experience with MBA students put in pseudo management situations who can't iron their own shirt or couldn't schedule people's hours at a Wendy's... but then I realized this article is about Elite programs. So I wonder are the Elite programs significantly different than other programs? One of my biggest problems encountering MBA students released into the wild is that so many have limi…
By and large, the top programs admit people who already have work experience. Early career experience--executive programs aside--but something material.